Assume the following for a European put option on a non-dividend-paying stock:

Stock price = $40

Strike price = $37

Risk-free rate = 8 percent

Volatility = 40 percent

Time to maturity = 3 months

d1=0.5898, N(-d1)=N(-0.5898)=0.2776, d2=0.3898, N(-d2)=N(-0.3898)=0.3483

I've calculated the value of the option on a non-dividend-paying stock which is $1.53.

What is the value of the option if a dividend of $1.50 was expected to be paid in 3 months?